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Economic Impact

City Manager Ghida Neukirch and Finance Director Julie Logan presented a detailed economic impact analysis of the COVID-19 pandemic on the City's budget at the May 26, 2020 Committee of the Whole meeting. This presentation, linked below provides an overview of forecasted revenue shortfalls and unanticipated expenditures related to the COVID-19 pandemic. Revenue for 2020 is anticipated to be $10 million (12%) lower than budgeted, primarily affecting the General Fund. Department Directors provided further information at the June 22, 2020 meeting of the Committee of the Whole.
 
June 22, 2020: City Council/Committee of the Whole (COVID-19 Economic Impact ReportVideo)
May 26, 2020: City Council/Committee of the Whole (Coronavirus Economic Impact Report PresentationVideo)

City Council approved a budget amendment to the 2020 budget due to the COVID-19 pandemic at the July 13, 2020 meeting. Over the course of two Committee of the Whole meetings in May and June, Finance Director Julie Logan presented a comprehensive analysis of the economic impact of the pandemic on the City's FY2020 budget and preliminary proposed budget for FY2021. The budget amendments approved by City Council were discussed in detail at the June 22, 2020 meeting of the Committee of the Whole.

The City will share information as it becomes available to this page and via the twice-weekly eNews. If your question is not answered below, please contact the City Manager's Office at 847.926.1000 or email cityhp@cityhpil.com. 

Last updated July 16, 2020.

When will we begin to see the impact of COVID-19 on the City's revenues?

What is the resulting impact on the FY 2020 budget?

What actions have already been taken to mitigate the forecasted impacts of COVID-19?

What financial relief has the City provided to residents or businesses to mitigate the impacts of COVID-19?

What factors were taken into account when preparing the economic impact analysis?